Do Online Reviews Matter to Businesses?
Episode Description
Customer reviews affect the business of online marketplaces in surprising ways, Wharton research finds. More: http://knlg.net/2iYA7zK 📂 Management;Marketing 🏷️ Research
Brief Summary
Chunchun discusses his research on how bilateral rating systems impact trust and pricing in online marketplaces like Uber and Airbnb.
Key points
- Understanding Rating Systems. Research focuses on the impact of rating systems in online marketplaces.
- Trust in the Digital Economy. Trust remains a critical issue in transactions between strangers online.
- Key Findings on Service Providers. Service providers may benefit from rating systems despite initial concerns.
Ask about Knowledge at Wharton
Episode highlights
- Understanding Rating SystemsResearch focuses on the impact of rating systems in online marketplaces.“Our paper is trying to understand the impact of the rating systems.”0:27Jan 17, 2017
- Trust in the Digital EconomyTrust remains a critical issue in transactions between strangers online.“The concept of trust is not new, but it plays a crucial role today.”1:37Jan 17, 2017
- Key Findings on Service ProvidersService providers may benefit from rating systems despite initial concerns.“Under some circumstances, transaction volume can exceed revenue loss.”6:10Jan 17, 2017
Tension
40/ 100Low tension
